1920’s & 1930’s: Economic Boom to Bust

1. 1920’s & 1930’s: Economic Boom to Bust Economic Boom to Great Depression: The 1920’s & 1930’s

2. Post-War America • Return to isolationism: • American’s were celebrating the end of WWI. • Americans were reforming society, culture and our economy.

3. 1920’s: Economic Boom

4. Presidents of the 1920’s

5. President Warren G. Harding(Republican 1921-1923) Return To Normalcy Favored big business: Low taxes/high tariffs

6. President Warren G. Harding Republican1923-Harding dies Vice President Coolidge takes over

7. President Calvin Coolidge(1923-1929)

8. President Calvin Coolidge(1923-1929) • Pro-business: “The chief business of America is business. The man who builds a factory builds a temple, the man who works there worships there.” • Low taxes & high business profits • Wanted to end government regulation of business and industry • GDP (Gross Domestic Product) grew from 74 billion in 21’to 104 billion in 29’

9. Booming Society of the 1920’s • Business • Increase in consumer good industries • Led to affordable luxuries--radios, movies, cameras, vacuum cleaners, washing machines, telephones, automobiles, airplanes…

10. Booming Society of the 1920’s B. Creative advertising • Focused on the psychology of the consumer • Installment buying • Consumption became an easy necessity • You buy now, pay as you use it. Credit buying

11. Creative 1920’s Advertising

12. Booming Society of the 1920’s II. Culture • Americans craved excitement and authority of the past generations • Jazz Age • Women

13. Booming Society of the 1920’s • Women • Flappers-liberated women • Makeup, short skirts, smoke/drank in public. • Right to Vote 1920

14. Flappers

15. Booming Society of the 1920’s • Automobile changed lifestyle: • Mobility, privacy for youth, farmers less isolated • Radio & silent movie popularity • Harlem Renaissance • Harlem, NY • Popularized African American creativity in art, music, & literature

16. Duke Ellington & his Orchestra

17. Langston Hughes: Poet To fling my arms wide in some place of the sun, to whirl and to dance till the white day is done then rest at cool evening beneath a tall tree while night comes on gently dark like me, this is my dream! To fling my arms wide in the face of the sun, Dance! Whirl! Whirl! Till the quick day is done, rest at pale evening, a tall slim tree…. night coming tenderly black like me. ----”Dream Variations”

18. Booming Society of the 1920’s • Prohibition (1919-1933) • Banning of the sale, manufacture, transportation of alcoholic beverages • Society resists bootleggers/speakeasies/gangsters.

19. Prohibition Era

20. Booming Society of the 1920’s • Heroes • Charles Lindbergh-1st non-stop solo flight, NY to Paris • Babe Ruth-60 homeruns for NY Yankees in 1927 • Jack Dempsy-Heavy weight champ defeated by Tuney in 1st 50 million dollar fight (1927)

21. The end of the good times arrives in 1929. • Stock market crashed • Wealthy people lost their investments • Businesses failed and closed • People lost their jobs • Debts could not be paid. • And… it just got worse! • The 1930’s are known as the Great Depression years.

22. Bust 1930’s * demand is low for goods * inflation decreases Factories and businesses close * unemployment rises * national income falls Can’t make payments on debts. Boom 1920’s * high demand for goods * inflation increases Many jobs are available * unemployment falls * national income accelerates Can make payments on debts. Boom Versus Bust Economy

23. The Roaring Twenties Many jobs Harlem Renaissance New technology Celebrate life after WWI This decade is the birth of installment buying. Advertisements encouraged more spending than families earned. Music, literature and art shows American Spirit. The 1920’s

24. 1920’s Roaring Twenties • Americans had good jobs. • Steady paycheck • Extra money to spend • Improved the quality of their lives